The Philippine Embassy in Vienna reported to the Department of Foreign Affairs that the Philippines’ International Container Terminal Services Inc. (ICTSI) was awarded the contract to develop and operate the Adriatic Gateway Container Terminal (AGCT) in Croatia’s Port of Rijeka. In a highly competitive bidding, ICTSI bested four other shortlisted bidders which included TCB Group of Spain, DP World of Dubai, APM Terminals and HHLA of Hamburg.

Mr.Denis Vukorepa President of the Management board Luka Rijeka and

Mr. Manuel Armando Fernandez ICTSI Senior Vice President

Mr. Manuel Fernandez, ICTSI Senior Vice President for Europe, Middle East and Africa, and Mr. Denis Vukorepa, President Management Board of Luka Rijeka, signed the agreement on 5 March 2011. Mr. Christian Gonzalez, ICTSI Vice-President for International Operations, represented Mr. Enrique Razon, Jr., ICTSI Chairman and President.

Philippine Ambassador to Austria, Croatia, Slovenia and Slovakia, Lourdes O. Yparraguirre, witnessed the signing of contract between ICTSI and the Port Authority of Rijeka at the Governor’s Hall of the City of Rijeka, Croatia. In her remarks, the Ambassador welcomed the new partnership between ICTSI and the Port of Rijeka as a major boost to enhancing bilateral relations between the vibrant economies of the Philippines and Croatia.

View of the Marble Hall of the Governor’s Palace in Rijeka, Croatia where the signing ceremony took place.

The signing ceremony was also witnessed by Croatia’s State Minister of Sea, Transport and Infrastructure Mr. Mario Babic, the Mayor of Rijeka Mr Vosko Obersnel, the Country Prefect Mr Zlatko Komadina, and the Philippine Honorary Consul General in Croatia, Mr. Davor Stern.

Ambassador Lourdes O. Yparraguirre welcomes the new partnership between ICTSI and the Port of Rijeka.

ICTSI and Luka Rijeka d.d. (LR), Croatia’s largest marine services and logistics provider, signed a 30-year strategic partnership for the management and operations of the Adriatic Gate Container Terminal (AGCT). As part of the transaction, ICTSI purchased 51 percent shareholdings of the AGCT. With its Croatian partner, ICTSI also plans to invest in excess of Euro 70 million during the initial phase of the concession, to include the introduction of new super-Post Panamax crane and comprehensive vessel loading and container terminal management systems.

Davor Štern (Honorary Consul of the Philippines), Mario Babić (the State Secretary in the Ministry of the Sea, Transport and Infrastructure), Lourdes Yparaguirre (Philippine Ambassador to Croatia), Mr.Denis Vukorepa (President of the Management board Luka Rijeka), Dr.Bojan Hlača (Executive Director LR), Mr. Manuel Armando Fernandez (Senior Vice President), Vojko Obersnel (Mayor of the City of Rijeka) and Zlatko Komadina (President of Primorsko-goranska County)during the toasting ceremony.

ICTSI is headquartered in Manila and is involved in the operation and development of 22 marine terminals and port projects in 17 counties worldwide. The company was one of the first international terminal operators to take its expertise overseas and has received significant acclaim for its global operations.

The Port of Rijeka is considered by many as a viable alternative to the more established Northern European ports like Rotterdam and Hamburg.   It has the potential to become a regional logistics hub, since its location offers easy access to landlocked Central and Southeastern European markets such as Vienna, Budapest and Bratislava. The Croatian officials underlined that the Rijeka Gateway Project is the first privatization project of the City of Rijeka under Croatia’s intensive infrastructure modernization program.

Croatia is expected to join the European Union in early 2012 and will receive Euro 250 to Euro 300 million a year for its tourism and transport infrastructure projects from the European Bank for Reconstruction and Development (EBRD).